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qr2161
New Member

IS THE AOC CREDIT GIVEN ONLY 4 TIMES IN A LIFE TIME OR DO I HAVE TO BE IN MY 4 YEARS OF COLLEGE

 
2 Replies
Hal_Al
Level 15

IS THE AOC CREDIT GIVEN ONLY 4 TIMES IN A LIFE TIME OR DO I HAVE TO BE IN MY 4 YEARS OF COLLEGE

Four times in a student's  life time.  If you parent's claimed it, on your schooling, while you were their dependent, those time would count against your four. 

 

[EDIT] The AOC cannot be used for grad school, even if you (and your parents) used it less than 4 times while you were an undergrad.

Opus 17
Level 15

IS THE AOC CREDIT GIVEN ONLY 4 TIMES IN A LIFE TIME OR DO I HAVE TO BE IN MY 4 YEARS OF COLLEGE

Actually both rules apply.  You can only claim it for 4 years, and you can only claim it for your undergraduate degree (first 4 years of college or its equivalent.)  So for example, if you are a new US resident taking a graduate program, you can't claim the AOTC because you are past your first 4 years (undergraduate equivalent)  even though you never claimed it before.   Or, if you are taking 5 or 6 years to get your first degree, you can only claim it for 4 years. 

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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